Multiple choice

A bank offers interest rate x% on the first Rs. 2,00,000 and y% on the rest of the savings. If an account holder earns interest of Rs. 30,000 from Rs. 4,00,000 and Rs. 60,000 from Rs. 10,00,000 of savings, find x.

  1. 20

  2. 15

  3. 12

  4. 10

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Interest = (200000 * x/100) + (remaining * y/100). For 4L: 2000x/100 + 200000y/100 = 30000 => 2000x + 200000y = 3000000 => 2x + 200y = 3000. For 10L: 2000x + 800000y = 6000000 => 2x + 800y = 6000. Subtracting equations: 600y = 3000, y = 5. Substituting y: 2x + 1000 = 3000, 2x = 2000, x = 10.

AI explanation

Set up a system of linear equations based on the simple interest formula SI = P * R * T / 100 for one year. The equations are 20000x + 20000y = 3000000 and 20000x + 800000y = 6000000. Subtracting the first equation from the second gives 600000y = 3000000, meaning y is 5. Substituting y back into the first equation gives 20000x + 100000 = 3000000, so x is 10.

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